Gold 15/6/2017 The wind has changed direction
Good morning!
This is what we are looking for.
We have a double top pattern.It is a false break.
Price was rejected twice.
I look at the EUR / USD pair,USD/JPY pair, they are also at the end of the pattern.
I also do not expect too much Fed will increase interest rates next time.
Let's take a look back at the last time the Fed raised interest rates, how the market is reacted ? The dollar has weakened.
Therefore, price action may reflect to reverse fundamental analysis.
We are just speculators,our job is to follow the trend.That's what help us to make money, not the Fed
You do not need to trade too much.You just have a nice set up, then enter an order and enjoy the trend.
And I have a set up for you, if i'm right.
This is what we are looking for.
We have a double top pattern.It is a false break.
Price was rejected twice.
I look at the EUR / USD pair,USD/JPY pair, they are also at the end of the pattern.
I also do not expect too much Fed will increase interest rates next time.
Let's take a look back at the last time the Fed raised interest rates, how the market is reacted ? The dollar has weakened.
Therefore, price action may reflect to reverse fundamental analysis.
We are just speculators,our job is to follow the trend.That's what help us to make money, not the Fed
You do not need to trade too much.You just have a nice set up, then enter an order and enjoy the trend.
And I have a set up for you, if i'm right.
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Update H4 chart :
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On daily chart :
Although price is at a down channel
However, we have a buy signal from RSI and Stoch
So a selling order at this time should be very careful
Price can rebound
Although price is at a down channel
However, we have a buy signal from RSI and Stoch
So a selling order at this time should be very careful
Price can rebound
Comment:
Now it was broken the down channel
Comment:
Price can not be recovered
The downtrend is likely to continue
The downtrend is likely to continue
Comment:
Price can recover
A sell order is unreasonable at the moment
- Shark pattern on daily chart
- Buy signal of Stoch and RSI
A sell order is unreasonable at the moment
- Shark pattern on daily chart
- Buy signal of Stoch and RSI
Comment:
Now, H4 has confirmed the recovery wave
However, this is only countertrend trading
You need to consider proper volume when placing orders to minimize risk
However, this is only countertrend trading
You need to consider proper volume when placing orders to minimize risk
Comment:
Although the wedge was broken but the momentum was still very weak
Price is still in the down channel
Now, I do not recommend anything
We need a more clarity of price
Price is still in the down channel
Now, I do not recommend anything
We need a more clarity of price
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I haven't seen any sign of reversing yet
We see the bullish double candles
It is above the support level
So I do not place a sell order at the moment
That is unreasonable
It looks like it's about to break the two-peak pattern
We see the bullish double candles
It is above the support level
So I do not place a sell order at the moment
That is unreasonable
It looks like it's about to break the two-peak pattern
Comment:
Price is struggling at the resistance
The shooting star candle appears at the resistance
4 consecutive sessions later price went sideways
This says that bullish momentum is still very strong
Closed week is a hammer
The candle cluster creates a bullish pattern: Fakey
The uptrend is still stronger than the downtrend
And price has not broken the up channel yet
The shooting star candle appears at the resistance
4 consecutive sessions later price went sideways
This says that bullish momentum is still very strong
Closed week is a hammer
The candle cluster creates a bullish pattern: Fakey
The uptrend is still stronger than the downtrend
And price has not broken the up channel yet